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Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 201 million barrels of oil in May and shipped 181 million barrels in the pipeline. The costs of the resources used by Graham in May consist of the following: Materials Conversion costs (labor and overhead) $2,174 million $3,230 million Required: The production supervisor estimates that the ending work in process is 60 percent complete on May 31. Compute the cost of oil shipped in...
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Graham Petroleum produces oil. On May 1, it had no
work-in-process inventory. It started production of 215 million
barrels of oil in May and shipped 185 million barrels in the
pipeline. The costs of the resources used by Graham in May consist
of the following:
Materials
$
2,532
million
Conversion costs (labor and overhead)
$
3,320
million
Required:
The production supervisor estimates that the ending work in
process is 80 percent complete on May 31. Compute the cost of oil...
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Graham Petroleum produces oil. On May 1, It had no work-in-process Inventory. It started production of 199 million barrels of oil in May and shipped 174 million barrels In the pipeline. The costs of the resources used by Graham In May consist of the following: Materials Conversion costs (labor and overhead) $2,658 million $3.399 million Required: The production supervisor estimates that the ending work in process is 60 percent complete on May 31. Compute the cost of oil shipped in...
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Graham Petroleum produces oil. On May 1, it had no
work-in-process inventory. It started production of 205 million
barrels of oil in May and shipped 185 million barrels in the
pipeline. The costs of the resources used by Graham in May consist
of the following:
Materials $ 3,004 million
Conversion costs (labor and overhead) $ 3,300 million
Required: The production supervisor estimates that the ending
work in process is 60 percent complete on May 31. Compute the cost
of oil...
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5. 10.00 points Graham Petroleum produces Oil On May 1, it had no work in process inventory. I started production of 198 million barrels of olin May and shipped 178 milion barrels in the piper. The costs of the resources used by Graham in May consist of the following Materials Cowersion costs (labor and overhead) $ 3.806 milion $3,370 min Required: The production Supervisor estimates that the ending work in process is 80 percent complete on May 31 Compute the...
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1. Enviro Corporation manufactures a special liquid cleaner at
its Green plant. Operating data for June follow:
Materials
$
308,000
Labor
38,000
Manufacturing overhead
246,000
The Green plant produced 1,600,000 gallons in June. The plant
never has any beginning or ending inventories.
Required:
Compute the cost per gallon of liquid cleaner produced in June.
(Round your answer to 2 decimal places.)
2.Graham Petroleum produces oil. On May 1, it had no
work-in-process inventory. It started production of 191 million
barrels...
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1. Tiger Furnishings produces two models of cabinets for home
theater components, the Basic and the Dominator. Data on operations
and costs for March follow:
Basic
Dominator
Total
Units produced
1,250
150
1,400
Machine-hours
5,000
2,000
7,000
Direct labor-hours
4,000
2,000
6,000
Direct materials costs
$
11,000
$
3,500
$
14,500
Direct labor costs
63,000
35,000
98,000
Manufacturing overhead costs
170,422
Total costs
$
282,922
Required:
Compute the individual product costs per unit assuming that
Tiger Furnishings uses machine-hours to...
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Sara's Sodas produces a popular soft drink. Operating data for January follow Materials Labor Manufacturing overhead $ 640,000 100,000 2,900,000 Sara's Sodas produced 14 million liters of the beverage in January Required: Compute the cost per liter of beverage produced in January (Round your answer to 2 decimal places.) Cost per liter Sanchez & Company produces paints. On July 1, it had no work-in-process inventory. It starts production of 98,000 gallons of paint in July and completes 79,000 gallons. The...
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Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending Work-in-Process Inventory (30% of the way through the blending process) Costs O gallons 9,000 gallons 4,000 gallons 5,000 gallons Beginning Work-in-Process Inventory $ 0 Costs added during May: Direct materials 6,750 Direct labor 1,300 2,000 Manufacturing overhead allocated $ 10,050 Total costs added during May Paint by Number prepares and packages paint products. Paint by Number has two departments: Blending and Packaging. Direct materials...
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need help with question #4
OIL In Process Units started Units completed Ending Work in Process Product 230,000 570,000 620.000 180.000 Percent of Conversion Added 60% 100% 100% 70% A) 758,000 B) 800,000 C) 620,000 D) 746,000 E) 884,000 Tasty Bakery produces donuts which go through two operations, mixing and baking, before they are ready to be packaged. Next year's expected costs and activities are shown below. Direct labor hours Machine hours Overhead costs Mixing 300.000 DLH 1,000,000 MH $500,000...
Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 201 million barrels of oil in May and shipped 181 million barrels in the pipeline. The costs of the resources used by Graham in May consist of the following: Materials Conversion costs (labor and overhead) $2,174 million $3,230 million Required: The production supervisor estimates that the ending work in process is 60 percent complete on May 31. Compute the cost of oil shipped in...
Graham Petroleum produces oil. On May 1, It had no work-in-process Inventory. It started production of 199 million barrels of oil in May and shipped 174 million barrels In the pipeline. The costs of the resources used by Graham In May consist of the following: Materials Conversion costs (labor and overhead) $2,658 million $3.399 million Required: The production supervisor estimates that the ending work in process is 60 percent complete on May 31. Compute the cost of oil shipped in...
5. 10.00 points Graham Petroleum produces Oil On May 1, it had no work in process inventory. I started production of 198 million barrels of olin May and shipped 178 milion barrels in the piper. The costs of the resources used by Graham in May consist of the following Materials Cowersion costs (labor and overhead) $ 3.806 milion $3,370 min Required: The production Supervisor estimates that the ending work in process is 80 percent complete on May 31 Compute the...
Sara's Sodas produces a popular soft drink. Operating data for January follow Materials Labor Manufacturing overhead $ 640,000 100,000 2,900,000 Sara's Sodas produced 14 million liters of the beverage in January Required: Compute the cost per liter of beverage produced in January (Round your answer to 2 decimal places.) Cost per liter Sanchez & Company produces paints. On July 1, it had no work-in-process inventory. It starts production of 98,000 gallons of paint in July and completes 79,000 gallons. The...
Gallons Beginning Work-in-Process Inventory Started in production Completed and transferred out to Packaging in May Ending Work-in-Process Inventory (30% of the way through the blending process) Costs O gallons 9,000 gallons 4,000 gallons 5,000 gallons Beginning Work-in-Process Inventory $ 0 Costs added during May: Direct materials 6,750 Direct labor 1,300 2,000 Manufacturing overhead allocated $ 10,050 Total costs added during May Paint by Number prepares and packages paint products. Paint by Number has two departments: Blending and Packaging. Direct materials...
need help with question #4
OIL In Process Units started Units completed Ending Work in Process Product 230,000 570,000 620.000 180.000 Percent of Conversion Added 60% 100% 100% 70% A) 758,000 B) 800,000 C) 620,000 D) 746,000 E) 884,000 Tasty Bakery produces donuts which go through two operations, mixing and baking, before they are ready to be packaged. Next year's expected costs and activities are shown below. Direct labor hours Machine hours Overhead costs Mixing 300.000 DLH 1,000,000 MH $500,000...